Mobility Capital Finance, Inc. (MoCaFi) is a financial service platform committed to closing the wealth gap through banking, credit building, and service partnerships that empower wealth creation in underinvested communities. The MoCaFi Financial Infrastructure As Service platform provides digital payments and banking services to government organizations, non-profits, and consumers. Learn more at mocafi.com
About the LA Department of Transportation
LADOT is committed to fighting climate change and pursuing climate equity in underserved neighborhoods on the front lines of the climate crisis. The California Air Resources Board (CARB) launched the Sustainable Transportation Equity Project (STEP) in 2019 to help communities reduce greenhouse gas emissions, increase access to clean transportation and address community transportation needs through transportation and land use projects in climate-burdened neighborhoods. STEP is part of California Climate Investments, a statewide initiative that puts billions of Cap-and-Trade dollars to work reducing greenhouse gas emissions, strengthening the economy, and improving public health and the environment — particularly in disadvantaged communities.
LADOT has launched a “Universal Basic Mobility” (UBM) Pilot using $13,843,298 in STEP grant funding from the State of California Climate Investment Program. The City of Los Angeles has also approved an additional $4 million in funding to enhance the pilot program for a total of $17.8 million. LADOT’s UBM pilot will integrate access across existing and new transportation options, introduce new shared mobility options for residents and workers, expand and integrate fare payment subsidies, provide green jobs training, and expand electrification to advance Universal Basic Mobility for South LA residents.